Mercia Tech acquires stake in Brummie video analytics firm
By Iain Gilbert
Date: Thursday 22 Mar 2018
(ShareCast News) - Investment group Mercia Technologies has made a new direct investment into Voxpopme, a UK platform that provides video analytics for clients such as Microsoft, Tesco, Verizon and Accenture.
Mercia's investment of £1m into the Birmingham-based technology company is part of the firm's growth strategy of "investing in innovative, young technology companies from the UK regions, which have demonstrated their ability to expand internationally by securing a blue-chip international client base".
The group now holds a direct equity holding of 12.3% in Voxpopme.
Dave Carruthers, co-founder of Voxpopme, said, "With our cutting-edge technology, deep industry knowledge and international footprint, Voxpopme has built a fully functioning platform to support accelerated growth. It is personally gratifying to see a high-quality investor such as Mercia join our share register ahead of what, we believe, will be a period of significant commercial progress."
Dr Mark Payton, Mercia's chief executive officer, added: "This is another example of the Mercia Model sourcing and scaling a high-quality technology business from the UK regions that we firmly believe will become a successful, valuable international businesses delivering meaningful shareholder returns over the medium term."
As of 0850 GMT, shares were flat on 40p.
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